Now may be the best time to get yourself behind the wheel of your next motor vehicle!
The end of the year has shown its beautiful head once again. Longer days, warmer nights (if you don’t live in the bipolar city of Melbourne like me) and of course, this time of the year brings out the Run Out Deals, End of Year “BONANZAS” and every dealership needs to hit their targets by December 31.
What all that jargon means is now may be the best time to get yourself behind the wheel of your next motor vehicle.
The end of each month is a usual safe bet to buy as like previously stated, every dealer has their monthly target, however, the end of the year might just be better because, for the dealers, it’s now or never to kick those annual goals considering new model releases.
If now is the time for you to update or buy your new car, here are my very own tips to keep in your back pocket for when you are dealership hopping!
Budgeting the right way!
What I mean by budgeting the “right way” is thinking about some of the key costs that may sting you without you noticing!
Things to consider would have to be:
· Insurance - is your budget including the cost of insurance?
· On-road costs - try to estimate all additional costs from the dealer on top of the standard cost price of the vehicle
· Type of lease - what is the interest rate from the bank? Are you going to maximize your tax savings and use a Novated Lease? Eziway Car Calculator
· Running costs - is the car fuel efficient? Is there fixed priced servicing?
What is THE car you’re after?
It’s very easy to get hooked onto the one car that you’re looking into purchasing. One good thing to keep in mind when thinking about updating is to know the market. Who are the competitors in the same car style? How does the price compare? Where is the real value for money?
Always go into the dealership with a common car in mind to try to use as a comparative tool to ensure you get the car YOU want that will satisfy every one of your needs and requirements.
What purpose is the car serving?
Are you expecting a new family member on the way? Are you loading up the Ute and heading out for the weekend? Do you just need to get from point A to point B?
When buying a car, it’s very easy to get side-tracked and lose focus on how the car is going to serve you. This takes away a lot of the guesswork when heading into the dealer because you’ll know exactly what type of car you need, the specification requirements and the added features that is going to make those car rides a little bit smoother.
Run out Models
Run out models are a great way to get that new car feeling for a much cheaper price. Right around the new year period dealerships across Australia are releasing details to their new model vehicles, which means the 2021 models that are now no longer “the latest releases” need to sell and quick! With the pressure to meet annual targets alongside the new releases you could be saving thousands off the purchase price of your vehicle, and the best thing about it is AVAILABILITY.
Given that the releases of new releases occur towards the latter end of Quarter 1, you’ll be waiting for a while for that new set of wheels. To make matters worse COVID-19 has delayed production world-wide. So, in the long run, if you’re waiting on a 2022 model car, you’ll probably only get it towards the end of the year - so you’re pretty much buying a run out model anyway! Take advantage of the immediate delivery, the insane end of year sales and the enormous tax savings you’ll get from leasing a run out model.
To conclude, buying a new car is a super exciting experience that should be enjoyed to the fullest but it’s great to always go in with a plan and purpose. So, if you have been tossing and turning on whether it’s time to update your motor vehicle, there’s never a better time than now to get out there and take advantage of the end of year sales and run out 2021 in a shiny new car.
AUTHOR
James Gozzo | Eziway Leasing
T 03 8768 5777
E james@eziway.net.au